Better inventory controls have allowed companies to operate with leaner and leaner stockpiles. If inventories get too tight, however, companies risk losing customers to competitors who can deliver the goods.

Tight inventories can also fuel inflationary pressures, as customers bid up prices on increasingly scarce goods.

Economists had expected the inventory rebuilding to begin in the third quarter, but data show inventory depletion subtracted 0.44 percentage points from growth in the third quarter.

Much of the data in Tuesday's report had been released earlier. The one main new piece of news was retail inventories, which increased 0.1% in October while sales increased 0.3%. Retail auto inventories grew 0.7% as sales fell 1.3%.

The retail inventory-to-sales ratio fell to 1.45 from 1.46, the lowest since July's 1.40.

In a separate report released Tuesday, the Commerce Department said retail sales rose 0.3% in November, as a rebound in auto sales more than offset a huge decline in gasoline sales. See full story.

Other details of the report had been released earlier.

Inventories at manufacturers increased 0.6% in October while sales rose 1%. The inventory-to-sales ratio fell to 1.17 from 1.18.

Inventories at wholesalers increased 0.2% in October while sales rose 1.2%. The inventory-to-sales ratio fell to a record low 1.13 from 1.15.

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